Tower Research Capital LLC TRC Acquires 1,694 Shares of Golden Ocean Group Limited (NASDAQ:GOGL)

Tower Research Capital LLC TRC raised its holdings in shares of Golden Ocean Group Limited (NASDAQ:GOGL) by 47.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 5,294 shares of the shipping company’s stock after buying an additional 1,694 shares during the period. Tower Research Capital LLC TRC’s holdings in Golden Ocean Group were worth $47,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GOGL. MetLife Investment Management LLC increased its holdings in shares of Golden Ocean Group by 1.7% in the fourth quarter. MetLife Investment Management LLC now owns 71,533 shares of the shipping company’s stock worth $641,000 after purchasing an additional 1,201 shares during the last quarter. Swiss National Bank increased its holdings in shares of Golden Ocean Group by 0.6% in the fourth quarter. Swiss National Bank now owns 257,524 shares of the shipping company’s stock worth $2,259,000 after purchasing an additional 1,658 shares during the last quarter. Jones Financial Companies Lllp increased its holdings in shares of Golden Ocean Group by 683.1% in the fourth quarter. Jones Financial Companies Lllp now owns 2,741 shares of the shipping company’s stock worth $25,000 after purchasing an additional 2,391 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Golden Ocean Group by 9.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 36,786 shares of the shipping company’s stock worth $330,000 after purchasing an additional 3,106 shares during the last quarter. Finally, Onyx Bridge Wealth Group LLC increased its holdings in shares of Golden Ocean Group by 10.4% in the fourth quarter. Onyx Bridge Wealth Group LLC now owns 35,091 shares of the shipping company’s stock worth $314,000 after purchasing an additional 3,315 shares during the last quarter. 22.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

GOGL has been the topic of several research reports. Jefferies Financial Group reduced their target price on Golden Ocean Group from $10.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, April 23rd. StockNews.com initiated coverage on Golden Ocean Group in a report on Tuesday, May 6th. They issued a “hold” rating on the stock.

Golden Ocean Group Trading Up 5.6%

Shares of GOGL stock opened at $7.90 on Tuesday. The company has a market cap of $1.58 billion, a PE ratio of 6.53 and a beta of 1.06. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.22 and a quick ratio of 1.22. The stock’s 50 day simple moving average is $7.64 and its two-hundred day simple moving average is $9.02. Golden Ocean Group Limited has a 1 year low of $6.27 and a 1 year high of $15.77.

Golden Ocean Group Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 21st. Stockholders of record on Tuesday, March 11th were issued a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 7.59%. The ex-dividend date was Tuesday, March 11th. Golden Ocean Group’s dividend payout ratio (DPR) is 53.57%.

About Golden Ocean Group

Golden Ocean Group Limited, a shipping company, owns and operates a fleet of dry bulk vessels worldwide. The company’s dry bulk vessels comprise Newcastlemax, Capesize, and Panamax vessels operating in the spot and time charter markets. It also transports a range of bulk commodities, including ores, coal, grains, and fertilizers.